Q1) Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between number of client contacts and dollar amount of sales. To document this assertion, Mr. McWhinney gathered the following sample information. X column indicates number of client contacts last month, and Y column shows the values of sales ($ thousands) last month, and Y column shows the values of sales ($ thousands) last month for each salesperson sampled.
|
Salesperson
|
Contacts (X)
|
Sales (Y)
|
|
Robert Armstrong
|
14
|
24
|
|
Jack Bender
|
12
|
14
|
|
Dorothy Brumley
|
20
|
28
|
|
Carmen Carella
|
16
|
30
|
|
Annette Perrault
|
46
|
80
|
|
Mary Jane Duryee
|
23
|
30
|
|
David Gwyer
|
48
|
90
|
|
Harvey Lazik
|
50
|
85
|
|
Ray Osbeck
|
55
|
120
|
|
Al Montanaro
|
50
|
110
|
i) Determine out the regression equation.
ii) Determine the estimated sales if 40 contacts are made.